LaBranche & Co Inc. Reports Q4 EPS of $(0.93) vs. $(0.12)

LaBranche & Co Inc. LAB today reported financial results for the fourth quarter ended December 31, 2010. The Company reported an after-tax net loss of $38.2 million, or $0.93 per share, which included non-cash charges of $38.1 million for a valuation allowance on the Company's deferred tax assets and depreciation of $0.5 million. The valuation allowance taken by the Company does not affect the tax attributes that would be available to be utilized by the Company. These 2010 fourth quarter results compare to after-tax net loss of $72.5 million, or $1.39 per share, for the 2009 fourth quarter, which included an after-tax non-cash impairment charge of $70.2 million related to the sale of LaBranche & Co. LLC's designated market maker business.